Multiple Choice
Suppose a firm in a competitive market earned $2,000 in total revenue and had a marginal revenue of $20 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold?
A) $5 and 50 units
B) $5 and 100 units
C) $100 and 20 units
D) $20 and 100 units
Correct Answer:
Verified
Correct Answer:
Verified
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